Indian River County Acquires Land In Vero Beach For $1.64M With Colliers As Buyer's Rep
1077 Riverwind Circle
$1,640,000
$2/SF
Building Size
673,873 SF
Asset Type
Development Site
Closing
Feb 26, 2026
AI
This transaction involved a land asset located at East End of 45th St, Gifford Dock Road, in Vero Beach, consisting of 12.76 acres, totaling 673,873 square feet. The sale price was $1,640,000, resulting in a price per square foot of $2.
Summary of transaction details:
- Property Type: Land
- Transaction Amount: $1,640,000
- Address: East End of 45th St, Gifford Dock Road
- Market: Vero Beach
- Acres: 12.76
- Square Footage: 673,873
- Price per Square Foot: $2
- Buyer: Indian River County
- Seller: Jeffrey & Annette Maffett - iThink Financial Credit Union
- Buyer's Representatives: Brooke Mosier, Julian Zuniga, Damian Johnson & Gerard Yetming - Colliers
The buyer, Indian River County, was represented in this transaction by a team from Colliers, which included Brooke Mosier, Julian Zuniga, Damian Johnson, and Gerard Yetming. The seller in this deal comprised Jeffrey and Annette Maffett, along with iThink Financial Credit Union.
Players
Vero Beach Development Site Market Snapshot
Boundary boundary · Development Site · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
9.67%
Cash-on-Cash
-2.76%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93